NY State Senate Bill 2023-S705

Senate Bill S705

2023-2024 Legislative Session

Relates to the definition of income for tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities

download bill text pdf

Current Bill Status - In Senate Committee Aging Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2024	referred to aging
Jan 06, 2023	referred to aging

2023-S705 (ACTIVE) - Details

See Assembly Version of this Bill:: A827
Current Committee:: Senate Aging
Law Section:: Real Property Tax Law
Laws Affected:: Amd §467-b, RPT L
Versions Introduced in Other Legislative Sessions:: 2013-2014: A8641
2015-2016: A3529
2017-2018: A2602
2019-2020: A798
2021-2022: A2137

2023-S705 (ACTIVE) - Summary

Relates to the definition of income for tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities.

2023-S705 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S705

SPONSOR: CLEARE
 
TITLE OF BILL:

An act to amend the real property tax law, in relation to the definition
of income for tax abatement for rent-controlled and rent regulated prop-
erty occupied by senior citizens or persons with disabilities

 
PURPOSE:

This bill includes union dues, court-ordered support payments, business
losses and capital losses as deductions for the purposes of determining
income eligibility for the Senior Citizen Rent Increase Exemption
(SCRIE) and Disability Rent Increase Exemption (SCRIE).

 
SUMMARY OF SPECIFIC PROVISIONS:

Section one amends paragraph c of subdivision 1 of section 467-b of the
real property tax law.

Section two sets forth the effective date.

 
JUSTIFICATION:

Since the inception of the SCRIE program in 1970 until 2012, certain
administering localities included both union dues and court-ordered
support payments as deductions from the program. These deductions are no
longer part of the calculation by those localities, including for house-
holds that were recipients of SCRIE or DRIE while these deductions were
still counted against total income. This bill ensures that these
payments continue to be counted as deductions.  Additionally, although
current law allows only net business income to be considered for eligi-
bility purposes, business losses, if greater than gross revenue, are not
deducted from total income. The bill would require that net business
income or losses be considered income for SCRIE and DRIE eligibility
purposes, and that the same standards will be applied to capital gains
and losses, which are not identified in current law.

 
LEGISLATIVE HISTORY:

2019-20: A.798 - Referred to Aging

2017-18: A.2602 - Referred to Aging

2015-16: A.3529 - Referred to Aging

2013-14: A.8641 - Referred to Aging

 
FISCAL IMPLICATIONS:

None to the State.

 
EFFECTIVE DATE:
This bill shall take effect immediately; provided that the amendments to
paragraph c of subdivision 1 of section 467b of the real property tax
law, made by section one of this act, shall not affect the expiration of
such section and shall be deemed to expire therewith.

2023-S705 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    705
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 6, 2023
                                ___________
 
 Introduced  by  Sen.  CLEARE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Aging
 
 AN ACT to amend the real property tax law, in relation to the definition
   of income for tax abatement for  rent-controlled  and  rent  regulated
   property occupied by senior citizens or persons with disabilities

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph c of subdivision 1 of section 467-b of  the  real
 property  tax  law,  as  amended  by chapter 500 of the laws of 2001, is
 amended to read as follows:
   c. "Income" means income from  all  sources  after  deduction  of  all
 income  and  social security taxes, UNION DUES AND COURT-ORDERED SUPPORT
 PAYMENTS and includes social security and retirement  benefits,  supple-
 mental  security income and additional state payments, public assistance
 benefits, interest, dividends, net rental  income,  salary  or  BUSINESS
 earnings  OR  LOSSES,  NET  CAPITAL GAINS OR LOSSES, and net income from
 self-employment, but shall not include gifts or  inheritances,  payments
 made  to  individuals  because of their status as victims of Nazi perse-
 cution, as defined in P.L. 103-286, or increases  in  benefits  accorded
 pursuant  to the social security act or a public or private pension paid
 to any member of the household which increase, in any given  year,  does
 not  exceed the consumer price index (all items United States city aver-
 age) for such year which take effect after the date  of  eligibility  of
 head  of  the household receiving benefits hereunder whether received by
 the head of the household or any other member of the household;
   § 2. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00929-01-3

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